Page:History of Goodhue County, Minnesota.djvu/219

 HISTOEY OF GOODHI E COUNTY 167 1878, as the First National Bank of Cannon Falls, the incorpora- tors being L. S. Follett and Stephen Gardner, of Hastings. In 1881 the name was changed to Citizens' Bank of Cannon Falls, L. S. Follett, banker. In 1886 Mr. Follett sold the bank to Hiram A. Seriver. In 1893, C. "W. Gress, of Northfield, purchased an interest with Mr. Seriver; and the firm became the Citizens' Bank of Cannon Falls — Seriver & Gress, bankers. In 1905 the busi- ness was incorporated as the Citizens' State Bank of Cannon Falls, Hiram A. Seriver, president ; Cliff W. Gress, cashier. Pres- ent condition: Capital. $30,000; surplus, $30,000; deposits, $547,792; cash on hand $109,000. The Farmers ' and Merchants ' National Bank, of Cannon Falls, was organized June, 1903. Its officers are: President, T. L. Baiseker ; vice president, J. L. Eriekson ; second vice president, Henry Thompson ; cashier, Edward Mattson ; assistant cashier, M. N. Gergen ; teller. F. O. Freeberg. Capital stock paid in, $25,000; surplus fund, $3,000; assets, $280,000. Cannon Falls Township received its name from the Big Can- non river, and its branch, the Little Cannon, whose sudden change of level forms a falls in the western part of the township, at the point where the city of Cannon Falls is now located. The Big Cannon Hows through the northern part of the township, from west to east, and its valley is marked by many changes in topog- raphy. The outer bluffs of the river are frequently more than a mile apart and over two hundred feet above the water in the river. In this valley are broad terraces and beautiful farms, and in addition to this the township has considerable timber. Along some of the valleys there is a sandy lightness to the soil, which has the effect of making the roads rather poor at some seasons of the year. For agricultural purposes, however, the soil is excellent and large crops are raised, although dairying is an important industry. The river bottom, from one-half to a mile in width, has a gravelly soil. It is probable that Dr. AY. W. Sweney and Richard and Will- iam Freeborn, who made the trip afoot from Peel Wing, were the first white men to behold the falls. The first settler was Edway Stoughton, who came early in 1854. Others were Charles Parks, who settled at the falls, and James H. Payton and James McGinnis. Mrs: Charles Parks was the first while woman at the Falls. The first death in the township was in August. 1855, when an infant son of David McKune passed to the Greal Beyond. The first child was Ellen Hartry, now Mrs. Ellen French, of Dennison, born in October, 1855. The first marriage was that of Robert Fotherby and Sarah Strange, who were united before Charles Parks, justice of the peace. E. L. Clark taught the first